Elon Musk, the CEO of the company Tesla and SpaceX, shared a video about the Dogecoin (DOGE) coin meme on May 1 in response to a tweet about Bitcoin by Brett Winton, director of research at Ark Invest.
In a tweet posted on April Fools’ Day, Mr. Winton cited a conversation with his mother about Bitcoin mining when he struggled to explain that Bitcoin miners are just computers designed to ready-made. Elon Musk responded to this twitter with a video titled “It’s for Dogecoin” and commented: “Show your mom this video, it will explain everything”.
The short video features the DOGE mascot on its way to the moon, a Shiba inu sitting on a rocket that overtook Bitcoin and other cryptocurrencies as the price of DOGE skyrocketed. Dogecoin co-creator Billy Markus commented on Musk’s tweet, saying that the meme video is “the best crypto video in history”. Previously, Elon Musk also posted this very video on his Twitter on February 7, last year.
The DOGE community is excited as Elon Musk tweets about their favorite cryptocurrency again. They have long called the Tesla CEO “Dogefather” and appreciate the “push up” of DOGE coin with their tweets.
DOGE, the 12th largest cryptocurrency by market capitalization, is trading at $0.152 per coin at press time, according to data from Bitcoin.com Markets. However, Musk’s latest tweet about DOGE didn’t have much of an impact on the market. The meme was hovering around $0.1420 when he tweeted.
In March, Elon Musk confirmed that he owns Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE), while emphasizing that he will not sell them. The boss of Tesla company believes that Dogecoin is the cryptocurrency for everyone and the best cryptocurrency for transactions. In contrast, he sees Bitcoin as a store of value asset. His electric car company also accepts DOGE for some items.